Fundamentals of Marketing Goods & Services

The importance of different marketing strategies for goods versus services lies in:

• The tangible and intangible nature of products

• The price of the product only

• The location of the business only

• The color of the product

Business and industry terms are defined as:

• Technical jargon used in commerce and manufacturing.

• Legal documents for business registration.

• Marketing strategies for industries.

• Financial statements of a company.

Identify types of retailers.

• Wholesalers and manufacturers

• Supermarkets, convenience stores, and specialty stores

• Factories and farms

• Banks and insurance companies

The role of retailers in a private enterprise sector is to:

• Manufacture goods

• Distribute goods to consumers

• Regulate market prices

• Provide raw materials

Identify examples of wholesalers.

• Retail stores

• Manufacturing plants

• Distributors and bulk suppliers

• Consumers

Describe the role of wholesalers in a private enterprise system.

• They act as intermediaries between producers and retailers.

• They manufacture goods for consumers.

• They provide financial services to businesses.

• They regulate market competition.

Marketing is the process of creating, communicating, delivering and exchanging goods and services which hold value for ________.

• consumers

• producers

• advertisers

• managers

Which of the following is NOT included in marketing?

• Product development

• Distribution methods

• Sales

• Manufacturing

Marketing is the process of building interest in a ______ or a product.

• company

• weather

• continent

• language

Which of the following is a part of marketing?

• Advertising

• Accounting

• Human Resources

• Engineering